Pepe Price Prediction: PEPE Plummets 8% As Investors Flock To This Multi-Chain Dogecoin Derivative For Parabolic Gains
Release: 2024/05/01 16:19 Reading: 897
Pepe Price Drops, Investors Turn to Alternative Meme Coins
The Pepe price has plummeted over 8% in the past 24 hours, trading at $0.000006668 as of 12:55 a.m. EST. This decline reflects the broader downturn in the crypto market, with the collective capitalization of digital assets falling more than 4% in the same period, according to CoinMarketCap.
Pepe Price Rebounds from Support
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4-hour chart for PEPE/USDT (Source: TradingView)
After briefly dipping below $0.00000631, the Pepe price has rebounded and is currently testing the $0.00000687 resistance level. A 4-hour candle close above this threshold could provide the necessary momentum for further gains.
Traders may consider entering long positions above $0.00000687, potentially triggering a wave of buy pressure. This bullish momentum could propel the Pepe price towards $0.00000761 and eventually $0.00000819.
However, if the Pepe price fails to break above $0.00000687 in the next 24 hours, the bullish thesis may be invalidated. In this scenario, the meme coin could retest the $0.00000631 support level.
Bulls Gaining Control
Technical indicators on PEPE's 4-hour chart suggest that bullish pressure is gradually building. The Moving Average Convergence Divergence (MACD) signal indicates a weakening bearish trend, while the Relative Strength Index (RSI) shows increasing buyer strength.
The MACD line is currently below the MACD Signal line, indicating a bearish phase. However, this trend may be reversing as the former rises towards the latter.
Meanwhile, the RSI is forming a bullish technical flag, signaling a potential breakout. If the RSI crosses above its Simple Moving Average (SMA), bulls could gain the upper hand against sellers on PEPE's 4-hour chart.
Alternative Meme Coin: Dogeverse
Given the potential for rejection at the $0.00000687 resistance level, investors may consider alternative meme coins that are less influenced by market trends.
Dogeverse (DOGEVERSE), an upcoming Dogecoin derivative in its presale phase, has attracted significant investor interest.
More Than Just Another DOGE-Themed Meme Coin
While Dogeverse shares some branding elements with Dogecoin, its success is not solely dependent on this connection. Dogeverse is the first cross-chain meme coin, enabling seamless value transfer across multiple networks.
DOGEVERSE token holders can participate in various DeFi protocols on popular chains such as Polygon, Ethereum, Avalanche, Base, BNB Chain, and Solana.
Additionally, the project offers an impressive 87% APY staking program on the Ethereum network, providing investors with potential rewards.
Booming ICO
Dogeverse's presale has raised over $12.8 million, highlighting its strong momentum. Its utility and staking program have contributed to this positive sentiment.
YouTuber Jacob Crypto Bury has expressed bullishness on Dogeverse, praising its early success.
DOGEVERSE is currently available for purchase at $0.000304 using various cryptocurrencies and bank cards. The token's price is set to increase in less than three hours.
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Source: https://thebittimes.com/pepe-price-prediction-pepe-plummets-8-as-investors-flock-to-this-multi-chain-dogecoin-derivative-for-parabolic-gains-tbt87109.html
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